Zacks Investment Research Lowers Insight Enterprises (NSIT) to Hold

Zacks Investment Research lowered shares of Insight Enterprises (NASDAQ:NSIT) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

According to Zacks, “Insight Enterprises Inc., is a global direct marketer of brand name computers, hardware and software. It is an Arizona-based publicly traded global technology company that focuses on business-to-business and information technology capabilities. The company markets to small-and-medium-sized businesses, through a combination of a strong outbound telemarketing sales force, electronic commerce, electronic marketing and direct mail catalogs. The company offers an extensive assortment of computer hardware and software. The company’s sales force, aggressive marketing strategies and streamlined distribution, together with its advanced proprietary information system, have resulted in high customer loyalty and strong, profitable growth. “

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A number of other brokerages have also recently issued reports on NSIT. ValuEngine cut shares of Insight Enterprises from a buy rating to a hold rating in a report on Sunday, December 31st. B. Riley reissued a buy rating and set a $56.00 target price (up previously from $54.50) on shares of Insight Enterprises in a report on Wednesday, November 8th. Finally, BidaskClub cut shares of Insight Enterprises from a sell rating to a strong sell rating in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Insight Enterprises presently has a consensus rating of Hold and a consensus price target of $48.00.

Shares of Insight Enterprises (NASDAQ:NSIT) traded down $0.24 during mid-day trading on Friday, reaching $38.14. 208,188 shares of the company’s stock were exchanged, compared to its average volume of 210,448. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.84 and a quick ratio of 1.59. Insight Enterprises has a 1-year low of $35.26 and a 1-year high of $53.19. The company has a market cap of $1,370.00, a PE ratio of 14.13 and a beta of 1.56.

Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Tuesday, November 7th. The software maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. Insight Enterprises had a net margin of 1.53% and a return on equity of 14.90%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. analysts forecast that Insight Enterprises will post 3.22 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Insight Enterprises by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock worth $103,000 after purchasing an additional 385 shares during the period. Pacad Investment Ltd. increased its holdings in shares of Insight Enterprises by 16.9% in the second quarter. Pacad Investment Ltd. now owns 7,600 shares of the software maker’s stock worth $304,000 after purchasing an additional 1,100 shares during the period. Bayesian Capital Management LP increased its holdings in shares of Insight Enterprises by 21.6% in the second quarter. Bayesian Capital Management LP now owns 6,423 shares of the software maker’s stock worth $257,000 after purchasing an additional 1,143 shares during the period. Alpha Windward LLC increased its holdings in shares of Insight Enterprises by 11.8% in the third quarter. Alpha Windward LLC now owns 11,940 shares of the software maker’s stock worth $548,000 after purchasing an additional 1,260 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Insight Enterprises by 1.8% in the third quarter. Rhumbline Advisers now owns 75,784 shares of the software maker’s stock worth $3,480,000 after purchasing an additional 1,323 shares during the period. 97.19% of the stock is currently owned by hedge funds and other institutional investors.

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About Insight Enterprises

Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.